Want to make multiple streams of income? Well, guess what? You DON’T need to buy more properties to do it. Instead, you can turn an existing rental property into a cash cow…but it has to meet the right qualifications. This is precisely what today’s first guest, Stacie, is looking for. She’s got multiple properties, and some have enough land to add a second rental property. But is doing development worth the high cash flow?
Welcome back to Seeing Greene, where David and Rob answer real estate questions from BiggerPockets listeners just like you! First, we’ll talk to Stacie about her buy vs. build dilemma, and which makes MUCH more sense in today’s market. Then, an investor struggling to save up down payments asks what he should do: save, invest elsewhere, or pay down his mortgages. Finally, David gives some swift advice on using a home equity “agreement” and how to make the MOST money on your house hack.
Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can jump on a live Q&A and get your question answered on the spot!
In This Episode We Cover:
How to turn one rental property into multiple streams of income
Building an ADU (accessory dwelling unit) and how much one can make
Whether to save, invest, or pay down your mortgage with your cash flow
Home equity “agreements” and whether they’re worth the risk in 2024
The ONE thing David looks for in ANY house hack that’ll turn it into a cash cow
And So Much More!
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Is it Better to Build New or Renovate Existing Homes as an Investor?
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-864
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BiggerPockets Real Estate Podcast